HSBC China services PMI falls

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Just to confuse and confound, the HSBC China services PMI is out this afternoon and it fell a point or so:

This obviously contradicts the weekend’s non-manufacturing PMI, which is broader. But such contradiction is no stranger to economic observer generally, let alone in China.

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Full report below.

121105 HSBC China Services PMI – Report (2)

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.